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TYPES OF COMPENSATION

By Rubinie -
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      What is compensation? Compensation refers to any payment given by an employer to an employee during their period of employment. In return, the employee will provide their time, labor, and skills. This compensation can be in the form of a salary, wage, benefits, bonuses, paid leave, pension funds, and stock options, and more (Jay, 2021) Why is understanding different Types of Compensation Important? Many sole proprietors or formerly small companies who are expanding quickly lack a skilled HR team. This indicates that no strategy was considered while creating their salary packages. The following can happen if you don't have an effective compensation plan and don't provide your employees with the correct balance of forms of salaries: Attrition De-motivation Reduced Productivity and therefore Reduced Profitability Lack of Satisfaction and Engagement Failure to Attract Top Talent Reduced Employee Loyalty   Types of Compensation Around the wo...
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EMPLOYER BRANDING

By Rubinie -
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  What Is Employer Branding? Employer Branding is the process of managing and influencing your reputation as an employer among job seekers, employees and key stakeholders. It encompasses everything you do to position your organization as an employer of choice. Your employer brand is your organization’s reputation as an employer. In simple terms, it’s what Job seekers and employees really think of you. It’s what they tell their friends and family when you aren’t around. Though it may not be tangible, your employer brand is an asset that requires constant cultivation.   (Daley, 2022) Why Employer Branding is Important? Employer branding is more than just a marketing strategy. It's your company's competitive advantage in the talent war. Simply put, a focus on employer branding helps highlight all the things that make your company great and stand out in the world of potential applicants. At the same time, you can also view ...
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